MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (11559)	4/10/2002 8:10:10 PM
From: t2	Read Replies (1) of 19219

The AAII index indicated that bullishness had dropped to about 40% (weekend Barrons) from the low 50s the week before. That seems like a low number compared to what I had seen for months. This seems consistent with the Artkos/OTC ratio of 17.7 as of last evening. Given that insider selling window has closed, not much in new offerings, lots of inflows---looks to be a setup for a short term rally at the very least. In addition, tech funds had seen outflows for months even while there were inflows into growth funds. One has to conclude that there will be many growth funds that will be looking to take their profits from other groups and move into tech. In addition, many of the largest mutual funds also do not invest much in technology stocks based upon what I have seen in their holdings. Lots of cyclical, financial and consumer stocks in those porfolios. One would think that some of them might now be ready to buy into the beaten up sub groups in technology...even if the valuations at this point do not look good. Funds generally look to buy positions to hold for longer periods anyways. jmho

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